Family/Indoor Entertainment Centers Footfall Market Segmented By Arcade Studios, VR Gaming Zones, Indoor Go-Kart Tracks, Sports Arcades, Trampoline, Indoor Adventure Parks Types
Industry: Semiconductor Electronics
Published Date: October-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 245
Report ID: PMRREP16936
The global family/indoor entertainment centers market is valued at US$ 41 Bn in 2022 and is projected to exhibit growth at a CAGR of 12.2% and reach US$ 130 Bn by the end of 2032.
The United States itself accounts for 31.3% share of the global family/indoor entertainment centers . Furthermore, arcade studios are the most popular and account for 26.1% share of the market.
|
Market Size (2022) |
US$ 41 Bn |
|
Projected Market Value (2032) |
US$ 130 Bn |
|
Global Market Growth Rate (2022-2032) |
12.2% CAGR |
|
Market Share of Top 4 Countries |
46.4% |
The global market exhibited a CAGR of 14.6% over the 2016-2021 historical period.
A family entertainment center, often known as a family amusement center, family fun center, indoor amusement park, or simply fun center in the entertainment industry, is a small amusement park aimed toward families with young children to teenagers. They typically serve sub-regional markets within more extensive urban areas.
Family/indoor entertainment centers are often smaller than full-scale amusement parks, with fewer attractions and an inexpensive per-hour per-person cost to customers than a standard amusement park. They are generally not big tourist attractions but are supported by a local customer base.
While there are several franchises and chains in the field, many are locally owned and run. Some, such as science museums or children's museums, are aimed toward arcade studios, edutainment experiences, VR and AR gaming zones, skill/competition games, physical play activities, and others instead of mere amusement.
Family/indoor entertainment centers are miniature indoor amusement parks that provide a wide range of activities for people of all ages. Among the numerous family entertainment centers that have survived for a decade include miniature golf courses, bowling alleys, museums, zoos, and water parks.
The global family/indoor entertainment centers is projected to exhibit a CAGR of 12.2% during the forecast period (2022 to 2032).
“Rapidly Rising Popularity of Mobile Gaming”
The rising popularity of mobile gaming among the young population is likely to drive the expansion of the global family/indoor entertainment centers market during the forecast period.
Mobile gaming is defined as games played on a handheld device with quick access. Family/indoor entertainment centers provide mobile games with the greatest options for younger people; consequently, the increasing propensity toward mobile gaming raises sales of the global family/indoor entertainment centers.
As a result, the rising popularity of mobile gaming among the young population is likely to drive the global family/indoor entertainment centers market during the forecast period.
“Development of New Indoor Amusement Parks”
The development of new indoor amusement parks with distinctive features is a prominent trend gathering steam in the global family/indoor entertainment centers market.
Several firms are trying to develop new indoor amusement parks to improve their standing in the global market.
“Ongoing Advancements in Gaming Technology”
Family/indoor entertainment centers are providing a diverse selection of gaming alternatives to their customers with ongoing technological advancements.
New technologies such as 3D technology, virtual reality gaming, and so on are becoming popular, and people prefer new forms of entertainment over conventional forms of entertainment.
Moreover, family/indoor entertainment centers have started to offer advanced technologies and gaming options for children, such as simulation games and indoor playgrounds.
As a result, the provision of a variety of gaming alternatives is projected to boost the growth of the global market over the forecast period.
“High Adoption of Loyalty Schemes”
High adoption of loyalty schemes by family/indoor entertainment centers and operators is anticipated to significantly help the global family/indoor entertainment centers market during the forecast period.
Loyalty schemes are available based on the requirements. These include visiting points, reward points, subscriptions, and special offers. Family/indoor entertainment centers can use such loyalty schemes to retain customers while also drawing new customers via promotions.
“Growing Usage of Family/Indoor Entertainment Centers for Family Events “
Significant changes in customer preferences for celebrating special events are estimated to boost the global family/indoor entertainment centers during the forecast period.
The availability of numerous new and distinctive entertainment and celebration options at family/indoor entertainment centers for parties, birthdays, events, and casual celebratory gatherings, among others, is expected to promote the growth of global family/indoor entertainment centers.
With the development of many creative options, family/indoor entertainment centers are transforming the way social gatherings are handled and attended.
Furthermore, family/indoor entertainment centers organize games and amusement, provide food and beverages, and so on, all under one roof, reducing the effort necessary by family members to arrange any such event or celebration directly.
Customers can also select a location size inside an indoor entertainment center depending on their family size or the number of people gathering. Moreover, increased disposable income among consumers in emerging economies is likely to bolster the growth of the global family/indoor entertainment centers market during the forecast period.
“High Initial Investment Requirement”
The high initial investment to set up family/indoor entertainment centers is a major factor anticipated to hamper the growth of the global family/indoor entertainment centers market. Due to high initial investment, operators have to charge high ticket prices, which has a significant effect on the number of parties placing reservations.
“Limited Scope of Transformation”
Family/indoor entertainment centers face difficulties in drawing visitors regularly. This is a challenge for family/indoor entertainment centers since they cannot alter their offers continually and instantly. This is owing to the substantial cost necessary to change the services.
Furthermore, family/indoor entertainment centers cannot update or install new rides due to space and financial limits. This is a severe hurdle that is projected to hamper the global market during the forecast period.
What Makes the United States a Huge Market for Family/Indoor Entertainment Centers?
The United States controls 31.3% share of the global family/indoor entertainment centers market. This is due to increased usage of IoT and AI technologies and sophisticated gaming options centered on VR, AR, and 3D technology.
Furthermore, the existence of prominent market players and well-established infrastructure are expected to spur the growth of the market in the United States.
How are Arcade Studios Leading Overall Market Growth?
The arcade studios segment accounts for 26.1% share of the global family/indoor entertainment centers market. Consumer lifestyle changes have had an impact on the expansion of the arcade studios segment.
Arcade games are becoming increasingly popular among customers as technology advances. Moreover, a rise in disposable income has transformed people's lifestyles, increasing their affordability to play new arcade games. Moreover, rising customer knowledge of technologically advanced products and virtual reality is expected to boost segment growth.
The worldwide family/indoor entertainment centers market is relatively fragmented with many large and small-sized market players vying for a significant revenue share.
Leading players are implementing multiple tactics such as land lease agreements, strategic agreements and contracts, mergers and acquisitions, arrangement of private celebrity performances, collaboration with numerous event management vendors, and acceptance of sophisticated technology to offer more varied experiences than competing companies in the global market.
|
Attribute |
Details |
|
Forecast Period |
2022-2032 |
|
Historical Data Available for |
2016-2021 |
|
Market Analysis |
USD Million for Value |
|
Key Countries Covered |
|
|
Key Market Segments Covered |
|
|
Key Companies Profiled |
|
|
Report Coverage |
|
|
Customization & Pricing |
Available upon Request |
By Type:
By End User:
By Region:
To know more about delivery timeline for this report Contact Sales
The global family/indoor entertainment centers market is projected to expand at a CAGR of 12.2% from 2022 to 2032.
The global market for family/indoor entertainment centers is expected to reach US$ 130 Bn by 2032.
Increasing number of family/indoor entertainment centers to promote family activities, ongoing technological developments, and rising adoption of loyalty schemes are the main factors driving market growth.
Arcade studios lead and account for the largest market share of 26.1%.
The United States is anticipated to dominate the global market over the decade.
